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Thursday, 21 August 2008

Timothy Canova discusses the roots of the subprime crisis in the neoliberalism of the Clinton administration. Tariq Ali asks how long before Pakistan's military is back in power given its political history and US connections. Seumas Milne examines the conflict in Georgia in context of US and NATO expansion.
"The Legacy Of The Clinton Bubble" by Timothy Canova

Barack Obama says that it was “George Bush’s Washington that let the banks and financial institutions run amok and take our economy down this dangerous road.” But, truth be told, the roots of the subprime crisis are based in the Clinton administration. Clinton's  free-market program culminated in two significant deregulatory acts. Clinton signed into law the Gramm-Leach-Bliley Financial Services Modernization Act of 1999, one of the most far-reaching banking reforms since the Great Depression. It swept aside parts of the Glass-Steagall Act of 1933 that had provided significant
regulatory firewalls between commercial banks, insurance companies, securities firms, and investment banks. Read more…

Dissent (Summer 2008)

"How Long Before the Military is Back at the Helm? Pakistan After Musharraf" by Tariq Ali

Pakistan's military dictators never go quietly. There is a temporary stalemate in Pakistan. The Army is in favour of Musharraf going quietly, but is against impeachment. Over the last fifty years the US has worked mainly with the Pakistan Army. This has been its preferred instrument. Nothing has changed. How long before the military is back at the helm?

Counterpunch (8/18/08)

"War in Georgia: a Tale of US Expansion Not Russian Aggression" by Seumas Milne

The outcome of six grim days of bloodshed in the Caucasus has triggered an outpouring of the most nauseating hypocrisy from western politicians and their captive media. War in the Caucasus is as much the product of an American imperial drive, its efforts to bring Georgia into NATO, as local conflicts. It's likely to be a taste of things to come. Read more…

The Guardian (8/14/08)
Posted in Miscellaneous by meb at 12:27 PMPermalink

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